TSX Group

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The TSX Group TSX: [X] owns and operates Canada's two major stock exchanges, the Toronto Stock Exchange, and the TSX Venture Exchange, formerly known as the CDNX.

Overview

The TSX group is organized into 5 divisions:

The Toronto Stock Exchange- this division operates the TSX, and manages client, listing, and advisory services provided to public companies listed on the TSX. The TSX deals mainly with senior equities that have matured on the market.
The TSX Venture Exchange- this group operates the CDNX, and manages services provided to public companies listed on the CDNX. The TSX Venture Exchange deals with junior, more speculative equities.
The TSX Markets Group - this division of the TSX Group conducts and facilitates all trading activity on both exchanges. It also sells trading products and trading services.
The TSX Datalinx - this division of TSX conducts and facilitates all market data operations on both exchanges. This division also maintains and sells market data, corp. info., and index products.
NGX - this division of the TSX Group operates the Natural Gas Exchange (NGX). The NGX is a leading North American exchange where natural gas and electricity contracts are traded and cleared.

The TSX group derives revenues from 3 sources:

charge companies an annual fee to list on any of the 3 exchanges and to maintain that listing. Major financial institutions also pay a fee to the TSX group to become a TSX member firm.
Charge member firms a commission on all trades executed on the exchanges.
sell real time and historical market data, trading products, and licensing revenues from the use of its exchange indices.

Each of these activities is linked to the others in a manner that supports the growth of them all: Increased trading activity creates greater liquidity and generates data. More liquid markets attract new listings and participation by brokerage firms and investors, and New listings generate more trading and market data.

Management

The former CEO of the TSX Group was Barbara Stymiest. On September 2004, Stymiest announced her resignation as CEO of the TSX Group so that she could join RBC Financial Group to serve as its COO. On December 2004, the TSX Group announced the appointment of Richard Nesbitt as the new and current CEO of TSX Group. Richard Nesbitt had previously served as President and Chief Executive Officer of HSBC Securities Canada.

External links

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